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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 11, 1996
NEWPORT NEWS SHIPBUILDING INC.
(Exact name of registrant as specified in its charter)
Delaware 1-12385 74-1541566
(State or other jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
4101 Washington Avenue, Newport News, VA 23607-2770
(Address of principal executive offices) (Zip Code)
(757) 380-2000
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS.
(i) On December 11, 1996, Tenneco Inc., the then sole stockholder of
Newport News Shipbuilding Inc. (the "Company"), distributed (the "Shipbuilding
Distribution") all of the outstanding shares of the common stock, par value
$0.01 per share, of the Company (the "Common Stock") to the stockholders of
record of the common stock of Tenneco Inc., pursuant to a certain Distribution
Agreement, dated as of November 1, 1996, among Tenneco Inc., New Tenneco Inc.
and the Company, set forth as Exhibit 2 to the Company's Registration Statement
on Form 10, dated November 6, 1996, as amended, filed with the Securities and
Exchange Commission (File No. 1-12385) (the "Registration Statement"). No
consideration was paid by the stockholders of Tenneco Inc. for the Common Stock
received in connection with the Shipbuilding Distribution. The Shipbuilding
Distribution and related transactions are more fully described in the
Registration Statement.
(ii) The Company, along with two other companies, previously entered into
an alliance (the "Alliance") to bid on the U.S. Navy's LPD-17 non-nuclear
amphibious assault ship construction program (the "LPD-17 Program"). On December
17, 1996, the Navy announced that another group of companies, competing with the
Alliance for award of the contract for the LPD-17 Program, was the successful
bidder.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.
NEWPORT NEWS SHIPBUILDING INC.
December 20, 1996 /s/ STEPHEN B. CLARKSON
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By: Stephen B. Clarkson
Vice President, General Counsel
and Secretary
